Raymond James Financial Inc. Acquires New Shares in SL Green Realty Corp. (NYSE:SLG)

Raymond James Financial Inc. bought a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 18,766 shares of the real estate investment trust's stock, valued at approximately $1,275,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty during the fourth quarter worth $39,000. Quadrant Capital Group LLC lifted its stake in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 208 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after buying an additional 157 shares during the period. Summit Securities Group LLC acquired a new position in shares of SL Green Realty during the fourth quarter valued at $88,000. Finally, FIL Ltd raised its stake in shares of SL Green Realty by 53.3% during the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock valued at $107,000 after purchasing an additional 550 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Up 0.5 %

Shares of SLG traded up $0.26 during mid-day trading on Wednesday, reaching $55.03. The company's stock had a trading volume of 610,506 shares, compared to its average volume of 847,253. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 687.88, a price-to-earnings-growth ratio of 5.30 and a beta of 1.59. The business has a fifty day moving average of $55.49 and a 200 day moving average of $65.42.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.13. The company had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. As a group, analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.2575 per share. The ex-dividend date is Wednesday, April 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.87%. SL Green Realty's payout ratio is -735.71%.

Wall Street Analyst Weigh In

SLG has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 12th. Truist Financial dropped their target price on SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Bank of America lowered their price target on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Jefferies Financial Group initiated coverage on SL Green Realty in a report on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective for the company. Finally, Scotiabank lowered their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.07.

SL Green Realty Company Profile

3SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.